Skydance Paramount Set to Cut Around 2,000 US Jobs – Update
Paramount Skydance is scheduled to initiate significant workforce reductions the week of 27 October, removing nearly 2,000 positions in the United States within a expense reduction strategy totaling $2bn led by new chief executive David Ellison.
The workforce reduction are a result of the merger between Skydance Media and Paramount Global, completed this past August worth $8.4bn.
More global layoffs are likely, with Paramount Skydance intending to disclose full details during its third quarter earnings report on 10 November.
Earlier reports stated that Paramount aimed to eliminate between 2,000 to 3,000 jobs before the start of November.
Until December 2024, Paramount employed nearly 18,600 full- and part-time employees along with 3,500 contract workers.
The company has not yet commented regarding the report.
